Rite Aid has hired health care and insurance industry executive Heyward Donigan as its new CEO, succeeding John Standley who is stepping down after nine years. Donigan most recently served as CEO of health-care plan analysis platform Sapphire Digital.
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Foot Locker has partnered with Nike to create a tech-driven retail concept store that's about four times the size of a typical Foot Locker store. The retailer has opened four Power locations, including one in New York City, and it expects to open about 50 in the next few years.
The North Face has created a new store format with the opening of an 8,000-square-foot New York City location, and it plans to remodel most of its 100 existing stores in the coming years. The lighter, brighter store features products and stories that encourage shoppers to explore, a dedicated pickup area for online orders and services including personal styling.
Canadian Tire will acquire the 65-store Canadian business unit of New York-based Party City Holdco for $174.4 million, with plans to add Party City products to its stores and reach more consumer segments. Party City commands 10% of the party supplies market that totals nearly $2 billion annually, the company said.
Carol Tome signed on as Home Depot's chief financial officer in 2001 and was a key part of the leadership team that helped the home-improvement retailer grow sales, weather the recession and stay competitive in the age of Amazon. As she prepares to retire, Tome talks about refashioning the business model, the role of the finance chief and the decision to stay on after not being selected for CEO.
Decisions by global fast-fashion retailers H&M and Zara parent Inditex to close some stores and focus more resources on e-commerce have paid off for both companies. Inditex is expanding the geographical reach of its online retail efforts, and H&M is focused on upgrades that improve product presentation, site navigation and delivery times.
Music City Mall in Lewisville, Texas, has welcomed Korean grocer Zion Market as its latest anchor store. The retailer will hold a K-pop festival in October to celebrate its entry into Texas, featuring bands Weki Meki and Chic Angel, as well as local K-pop artists and influencers.
Adidas, with Jam3, launched its latest Ozweego sneaker with an interactive pop-up experience in Manhattan, "Newsstand of the Future," which fast-forwarded visitors to 2048 when the shoe turns 50 and featured a newspaper stand that, when the right code was entered, dispensed branded magazines including 600 tickets for free sneakers. The experience was promoted via Hypebeast, influencers and an Instagram Story with scratch-off numbers that revealed the pop-up's location via text.
A piece of Lilly Pulitzer apparel is immediately recognizable: its vibrant prints have been known to customers for 60 years. President Michelle Kelly joins NRF's Retail Gets Real podcast to talk about how the iconic brand stays relevant and uses the "love of Lilly" to bring people together. Listen and subscribe.
Nicholas Charles Tyrwhitt Wheeler founded London-based menswear brand Charles Tyrwhitt in 1986 because he thought he "could make a shirt better than anybody else." In this interview with NRF's STORES magazine, CEO Luke Kingsnorth discusses who the typical Charles Tyrwhitt customer is, how the retailer is reaching them online, in-store and through catalogs, and how the company remains competitive in the US market. Read more.
McDonald's will roll out a limited-time value-oriented offer this week, giving customers who buy one of four select menu items the option of buying a second item for $1. The national offer is designed to strengthen McDonald's value platform, which the chain updated earlier this year by giving local markets a choice on items they offer on the Dollar Menu.